---
kind: "section"
citation: "24 C.F.R. § 248.315"
title: "24"
number: "248.315"
heading: "Preservation agreements."
url: "https://uscodex.org/cfr/24/248.315"
---

# §248.315. Preservation agreements.

- (a) **Agreements required.** Owners of projects with State assisted or subsidized mortgages whose plans of action have been approved under [§ 248.307](/cfr/24/248.307.md) shall enter into agreements, contracts and/or mortgage modifications with the State agency or local housing authority to maintain the housing as affordable to tenants in accordance with [§ 248.145](/cfr/24/248.145.md). Such agreements may provide for the renewal of any assistance made available under [§ 248.319(c)](/cfr/24/248.319.md?p=c).
- (b) **Term of agreement.** Preservation agreements shall be coterminous with the expiration of any assistance provided under [§ 248.153](/cfr/24/248.153.md) and made available in accordance with [§ 248.319(c)](/cfr/24/248.319.md?p=c).

## Notes

### Source

Source: 57 FR 12060, Apr. 8, 1992, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 17151 note, 4101 note, and 4101-4124; 42 U.S.C. 3535(d).